Tech Insider: Tencent Posts First Ever Revenue Decline, BYD Invests $4.2 Billion in Lithium Project

Welcome to Caixin’s Tech Insider, your twice-weekly wrap on the movers, shakers and deal-makers in China’s tech scene.

Tencent posts first quarterly revenue fall since 2004 listing

Tencent Holdings Ltd. reported its first quarterly revenue decline since going public in 2004 after its workforce shrank almost 5%, as the internet giant grapples with China’s economic downturn, pandemic disruptions and ongoing regulatory scrutiny.